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Chinese tiremaker announces price reduction

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Chinese tire manufacturer Aeolus Tyres says it is "responding to lower raw material prices on the global market" by lowering its prices.

Tire lines affected and percentage of decrease have not been disclosed.

In related news, Aeolus has announced it plans to gain 3% share of the European market, having sold more than 250,000 tires there in 2008.

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